Washington, D.C., August 3, 2009—Patton Boggs LLP is expanding its reach in the financial services arena by hiring one of the nation’s leading mortgage banking legal teams.
The practice group of six lawyers, lured away from Weiner Brodsky Sidman Kider, will operate out of the firm’s Washington and Dallas offices. The team includes three partners: Richard Andreano, John Socknat and Michael Waldron and three associates.
“This is a tremendous boost to the firm’s financial services practice,” said Stuart M. Pape, managing partner of Patton Boggs. “This is an opportune time to strengthen our hand in this area and we look forward to offering our clients enhanced capabilities and value.”
The team made the switch because they believe Patton Boggs, with its deep connections in Washington, best positions them to help clients navigate the increasingly complex regulatory landscape and take advantage of new opportunities as the financial markets rebound and the next iteration of industry players emerges.
"There will be unprecedented regulatory, transactional and litigation activity and with that movement comes opportunity,” said Mr. Andreano, who focuses on regulatory compliance, transactional and administrative matters for residential housing and financial clients. “Patton Boggs offers clients the resources, sophistication and flexibility to thrive in the new economic climate.”
Mr. Andreano, a frequent speaker on industry matters before the American Bankers Association, the Mortgage Bankers Association (MBA), the Real Estate Services Providers Council (RESPRO), October Research Corporation seminars and other organizations, earned his law degree from George Washington University School of Law in 1983.
Mr. Socknat’s practice focuses on state and regulatory compliance matters related to the financial services industry. He represents mortgage companies, consumer finance companies, financial institutions, title companies, real estate brokers and secondary market investors on a variety of issues. He earned his law degree from Catholic University’s Columbus School of Law in 1995.
“We are excited to be joining Patton Boggs and be able to offer our clients additional value by working closely with the firm’s other practice groups and offices,” stated Mr. Socknat. “Patton Boggs’ depth in enforcement, litigation and public policy is a natural fit for our group and for our clients.”
Mr. Waldron draws upon his experience as in-house counsel at two different national lenders/servicers to provide clients with top-notch legal service. He represents and advises mortgage companies, consumer finance companies, financial institutions and secondary market investors on the complexities of the current marketplace and structuring innovative and compliant lending programs. He graduated from Catholic University’s Columbus School of Law in 1995.
“Our team understands the challenges that lie ahead for the financial services industry and practicing at Patton Boggs will give us an enhanced ability to lead clients through the complicated regulatory processes that now accompany the financial services industry,” stated Mr. Waldron. “Working closely with the firm’s esteemed professionals provides us with a sophisticated and diverse platform from which to expand our practice and allows us to create new synergies for clients.”